Many Australians approach tax time slightly optimistic, expecting that at the end of all the collating and calculating there will be some kind of refund. We all keep our fingers crossed that we will have a positive outcome for the end of the FY.
But changes in policies mean that some Aussies won’t receive a refund for the 2022/23 financial year and they will actually owe the Australian Taxation Office (ATO) money.
How is that possible? Well since policies have been updated there are a variety of reasons why this may happen. Check out this ABC article to find out more >>